Michigan Farm News: House passes budget reconciliation in win for Trump’s ‘Big, Beautiful Bill’
President Donald J. Trump is one step closer to seeing his vision for “One Big, Beautiful Bill” become a reality after the House voted 215-214 to pass their version the budget reconciliation bill.
The budget includes updates for farm programs, including better reference prices, a broader band of protection levels under commodity and insurance programs, increased funding for trade, and an extension of the 45Z clean energy tax credit, among other provisions.
The American Farm Bureau Federation applauded the passage of the bill, saying it modernizes farm bill programs while extending and improving critical tax provisions that benefit America’s small farmers.
“Updated reference prices will provide more certainty for farmers struggling through tough economic times,” said AFBF President Zippy Duvall.
“Making business tax deductions permanent and continuing current estate tax exemptions will ensure thousands of families will be able to pass their farms to the next generation. We urge the Senate to work together and swiftly pass legislation to deliver much-needed relief to America’s farm and ranch families.”
In celebrating the bill’s passage, House Speaker Mike Johnson called the bill “generational, nation-shaping legislation,” adding that it “reduces spending, permanently lowers taxes for families and job creators, secures the border, unleashes American energy dominance, restores peace through strength, and makes government work more efficiently and effectively for all Americans.”
President Trump praised Johnson and House leadership in a post on his Truth Social platform, adding, “It’s time for our friends in the United States Senate to get to work, and send this Bill to my desk AS SOON AS POSSIBLE!”
Via the bill, businesses would also receive several tax cuts, including valuable deductions for research and investment spending, as well as a new tax break for building factories. The bill also contains a faster phaseout of tax credits for companies building solar, wind, geothermal or battery plants.
Rep. Tim Walberg (R-MI) said the measure will prevent the average taxpayer in Michigan's 5th District from seeing a 27% tax hike, make significant investments in our communities, and implement critical policies like no tax on tips or overtime pay to support American workers.
The bill now heads to the Senate, where it’s expected to be voted on in early June.